Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/148209
Authors: 
Kadoya, Yoshihiko
Khan, Mostafa Saidur Rahim
Year of Publication: 
2016
Series/Report no.: 
ISER Discussion Paper, Institute of Social and Economic Research, Osaka University 982
Abstract: 
This study aims to determine the factors that affect financial literacy in Japan using data from Osaka University's Preference Parameter Study in Japan. We examined fourteen variables covering respondents' demographic, socio-economic, and psychological backgrounds drawn from social learning, consumer socialization, and psychology theories of learning. The results indicate that the demographic factors of gender, age, and education; the socio-economic factors of income and occupation; and the psychological factor of perceptions about future significantly affect the level of financial literacy. We checked the robustness of results using a different measure of financial literacy, which also confirmed our findings. The results emphasize the need for a formal financial education and social contact to boost financial literacy levels in Japan.
Subjects: 
financial literacy
household
finance
JEL: 
D14
G02
Document Type: 
Working Paper

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